17th February 2009

Today, I am going to talk about the recent hot topic. The current Global Recession. I think that the entire world is going through the recession because of the declaring of bankruptcy of the old bank, Lehman Brothers which was founded in 1850. It's closure caused many people to lose money buying the shares and trusts of this particular bank. Many lost their whole fortune as they invested all of their money into these shares and trusts. Many Singaporeans lost their money as a result of this. This global recession has many different effects on different people from different parts of the world. For instance, the government of Iceland had lost so much money that it almost declared bankruptcy and took money from the IMF. It also caused Singapore to use its reserves for the first time since its independence in 1965. I think, the moral of this is not to be too greedy. Some lost their whole fortune as a result of being greedy.

Signing off,
Dickson